A Framework for Assessing the Value of Downtown Land
Florenz Plassmann and
T. Nicolaus Tideman
Working Papers from Virginia Polytechnic Institute and State University, Department of Economics
A decomposition of aggregate labor productivity based on internationally comparable data reveals that a high share of employment and low labor productivity in agriculture are mainly responsible for low aggregate productivity in poor countries. Using a two-sector general-equilibrium model, we show that differences in economy-wide productivity, barriers to modern intermediate inputs in agriculture, and barriers in the labor market generate large cross-country di?erences in the share of employment and labor productivity in agriculture. The model implies a factor difference of 10.8 in aggregate labor productivity between the richest and the poorest 5 percent of the countries in the world, leaving the unexplained factor at 3.2. Overall, this two-sector framework performs much better than a single-sector growth model in explaining observed differences in international productivity.
Keywords: land value; building value; property assessment; urban land assessment. (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
ftp://repec.econ.vt.edu/Papers/Tideman/AssessingDowntownLand.pdf First version, 2003 (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:vpi:wpaper:e07-5
Access Statistics for this paper
More papers in Working Papers from Virginia Polytechnic Institute and State University, Department of Economics Contact information at EDIRC.
Series data maintained by Djavad Salehi-Isfahani ().